CLEARWATER BEACH, FL—HFF has closed the sale of the Hilton Clearwater Beach, a 416-key hotel overlooking the Gulf of Mexico.
HFF marketed the property on behalf of the seller, an affiliate of Blackstone. An affiliate of Columbia Sussex Corp. purchased the offering free and clear of existing debt. The purchaser is entering into a long-term franchise agreement with Hilton and will assume property management responsibilities.
The full-service hotel is situated on 10 acres directly on the sand at 400 Mandalay Ave. and proximate the terminus of Clearwater Memorial Causeway, affording access from downtown Clearwater, Tampa International Airport and Interstate 75.
Renovated in 2006, the nine-story Hilton-branded hotel features 40,000 sq. ft. of indoor/outdoor function space, two beachside swimming pools, a fitness center, a kids club and water sports rentals and activities. The hotel has four dining options, including Reflection, a full-service restaurant offering gourmet cuisine and views of the beach and Gulf of Mexico; Coaster’s Lounge in the lobby; the poolside Sand Bar & Grill and the Tiki Bar.
The HFF team representing the seller was led by Dan Peek, senior managing director and head of HFF’s hotel group; Director Max Comess; and real estate analysts Alexandra Lalos, Zach Nolan and Preston Reid.